2006 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Lingamfelter
Co-Patron(s): Athey, Cole
Retired Firefighters (language only)

Item 4-6.03 #3h

Item 4-6.03 #3h

Positions and Employment
Employee Benefits

Page 521, after line 14, insert:
"j.  Notwithstanding any other provision of law, a full-time firefighter receiving a service retirement allowance under Title 51.1, Chapter 1, Code of Virginia,  who is employed as a full-time firefighter by a VRS-participating employer other than the employer from which he retired, may elect to continue to receive the retirement allowance during such employment. If the person elects to receive the retirement allowance during the period of such employment, (i) then his service performed and compensation received during such period of time will not increase, decrease, or affect in any way his retirement benefits before, during, or after such employment, and (ii) he shall be exempt from the provisions of §§ 51.1-135 and 51.1-155.B.1 during such period of employment.  This provision shall not become effective unless the Virginia Retirement System receives a written ruling from the Internal Revenue Service (IRS) that affirmatively states that the provisions of this amendment, were it to become effective, will not in any way adversely affect the qualified plan status of the Virginia Retirement System under federal law. "

(This amendment enables retired firefighers to return to work with another employer and continue to receive VRS benefits.)